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According to the ‘Bankia Índicex Report 2017’ prepared by the bank

A total of 80% of Spanish small and medium companies (SME) are already in making the digital change

The 'Bankia Indicex 2017 Report', which has analyzed more than 7,000 companies, shows a clear progress of companies in terms of digitization.

Bankia Comunicación

By  Bankia Comunicación

Publish on 
04 July 2018 - 11:00

  • Small and medium Spanish companies have upped their global score by one percentage point in the report since the 2016 edition, achieving a 5.1
  • SMEs have established their command of Web Analytics and SEO positioning and improved in key areas like social networks, digital marketing and mobility
  • A type of digital super-company has appeared: SMEs that stand out from the rest in terms of digital uptake that are rated 20% above their competitors
  • The wholesale and retail sales sectors are still at the forefront of the digital change
  • SMEs are digitalising in all autonomous regions

Eighty per cent of Spanish small and medium companies are making the digital change and, for the second consecutive year, indicators show that companies are continuing to made strides in digital transformation, according to the ‘Bankia Índicex Report 2017: digitisation of SMEs in Spain’ issued by the bank after analysing almost 7,200 companies.

It found that most SMEs analysed are making the change towards the digital economy and investing more and more resources on improving their digital performance, with a constantly evolving digitisation strategy.

“They are digital enthusiasts that understand that the digital change can only be achieved by coordinating the different areas of digitisation’, says the Bankia Índicex 2017 Report’. Specifically, the overall digitisation score achieved by the SMEs analysed when compiling the report together grew by one per cent with respect to the previous edition, to 5.1.

This score is obtained by analysing more than 100 parameters in nine digitisation areas. Companies scored from 0 to 3.3 are ranked as uncompetitive. Those with scores between 3.4 and 6.6 are classed as memorable, and those that do better than 6.6 are deemed competitive.

The overall result of 5.1 obtained by Spanish SMEs in the Bankia Índicex 2017 Report’ is in the memorable range, just a point and half from achieving digital excellence.

Mastering SEO Positioning and Web Analytics

The ‘Bankia Índicex Report 2017: The digitisation of companies in Spain’, produced by Bankia’s Spanish SME Digital Transformation Observatory, also shows a decline in the number of uncompetitive companies since 2016.

This is proof of the hard work done by Spanish companies to adapt to the new 4.0 Economy, contacting customers through digital channels, automation of production processes, Big Data analysis for establishing sales strategies and analysing consumers and connectivity through smart networks, continuing to transform businesses in all sectors of activity.

Spanish small and medium companies have confirmed the good results obtained from the previous study while making substantial improvements in digital areas where shortfalls were most evident. The move towards mobile devices, launching commercial actions and online and social media promotional activities are the areas where Spanish companies have most room for improvement.

However, it is precisely in these areas where they have made most progress since last year, gaining between 2% and 3%. Once again, small and medium companies achieved the best results in SEO and Analytics positioning.

The ‘digital super-company’

The report has revealed the existence of a group of digital super-companies that has emerged from the crowd in digital uptake, rated 20% above average. Digital super-companies are business-to-customer (B2C) enterprises that focus on e-commerce, sell products and aim to export online.

These ‘digital super-companies’ obtained an overall score of 6.1 as opposed to 5.1 of all the companies analysed, thanks to improved management of all areas analysed. The need to compete abroad with leading international companies and to appeal directly to consumers to sell their products through online channels forces them to take more care with the contents of their pages, their suitability for use on mobile devices and positioning in search engines and use in digital marketing - almost two points above average - thanks to the web analytical domain, where they obtained a score of 7.2.

Companies that ‘think digital’ stand out for their cross-cutting approach, which applies to all areas of digitalisation, which are necessarily interdependent. Companies understand that transforming to a new way of doing business and relating to customers will go beyond introducing isolated technological solutions, but will require these to become part of a single, multidisciplinary digitalisation strategy destined to change the DNA of their corporations.

‘Levers’ of digitalisation

The good results achieved by these ‘super-companies’ will make it possible to identify the big ‘levers’ or incentives for digitisation: exports, e-commerce and online sales to final clients.

Companies that export score substantially higher in the Bankia Índicex than those that do not, achieving 5.3 as opposed to 5. Likewise, e-commerce companies obtained a score of 5.2 as opposed to the 4.8 achieved by companies that do not sell online.

B2C companies have made progress with more robust adoption of digital techniques; 13.7% of them have managed to be competitive as opposed to 8.7% of B2B companies, with a difference of 57%. Lastly, small and medium companies that sell products did 8% better than those that sell services, proving that they are early adopters of digital techniques. Online product sales are among the biggest advantages of digitalisation.

Wholesale and retail business leads digitalisation

The digital transformation continues to advance in all sectors of activity, with wholesale and retail commerce, manufacturing and textile industries still at the forefront, along with telecommunications, the media, electronics and services.

Wholesale and retail businesses have tools to grow and increase sales in the digital ecosystem. These businesses score 5.5 in digitalisation, four points above the Bankia Índicex average, driven by e-commerce, which they already dominate with a score of 7.

Online sales of services have encouraged improvement in closely related areas, such as user experience and web analytics, where they are three points ahead of other SMEs with 6.1 and 6.5, respectively, and in digital marketing, they are more than half a point better than the average achieved by Spanish companies.

Therefore, Spanish small and medium companies have had another year of significant progress on the road to digitalisation, consolidating more established digital areas such as Positioning and Analytics and strengthening weaker aspects like Social Networks, Mobility and Digital Marketing. The “2017 Bankia Índicex Report confirms constant improvements in the digital world of Spanish businesses, although there is still plenty of room to make better use of commercial opportunities.

Digitalisation is taking place in all autonomous regions

Digital uptake is not restricted to large economic hubs like Madrid and Barcelona, but is also booming in other areas, showing the diversity and complexity of the Spanish scene. This diversity materialises in a digital adoption rate by Spanish small and medium companies that overcomes the traditional barriers.

In spite of the enormous differences in the GDP of Spain’s autonomous regions, the data gathered by Bankia’s Índicex tool reveals that companies’ digital transformation is a nationwide phenomenon.

Scores range from 4.6 in Extremadura, the region with most room for improvement, to 5.1 in Andalusia, Aragón, Cantabria, Castilla y León, Catalonia, the Valencia Region, the Madrid Region, the Principality of Asturias and the Murcia Region.

This means that there is barely half a percent between the autonomous regions at the back of the pack and the majority, since all share very similar scores. Galicia, Canary Islands, La Rioja and Navarre obtained a 5, while SMEs in the Basque Region and the Balearic Island lagged slightly behind with a 4.9.

All in all, although there is still room for improvement and some territorial differences, SMEs have started their journeys into the digital world in Spain and have sufficient tools to improve their weak scores and take the next steps towards digitisation.

More information

‘Informe Bankia Índicex 2017: La digitalización de las pymes en España’ (spanish version).

Aspects that can be improved according to the Bankia Índicex 2017 Report

Positive aspects according to the Bankia Índicex 2017 Report

Online Report "Bankia Índicex 2017: La digitalización de las pymes en España" (spanish version).



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